Based on provisional data by the Bank of Greece, the balance of travel services in October 2020 showed a surplus of €472 million, compared with a surplus of €1,203 million in October 2019. More specifically, travel receipts in October 2020 fell by 64.0% to €526 million, from €1,462 million in October 2019, while travel payments also decreased by 79.2% (October 2020: €54 million, October 2019: €259 million). The fall in travel receipts resulted from a 65.6% decline in inbound traveler flows, as average expenditure per trip rose by 10.3%. Net receipts from travel services offset 32.8% of the goods deficit and accounted for 55.5% of total net receipts from services.
In January-October 2020, the balance of travel services showed a surplus of €3,340 million, down from a surplus of €15,298 million in the same period of 2019. Travel receipts fell by €13,534 million or 77.0% to €4,036 million, while travel payments also decreased by €1,576 million or 69.4% to €695 million. The drop in travel receipts stemmed from a 1.4% fall in average expenditure per trip and a 76.1% decrease in inbound traveler flows. Net receipts from travel services offset 21.5% of the goods deficit and accounted for 51.5% of total net receipts from services.
Travel receipts
In October 2020, as mentioned previously, travel receipts declined by 64.0% year-on-year. In more detail, receipts from residents of EU27 countries fell by 48.5% to €378 million, while receipts from outside the EU27 decreased by 77.3% (October 2020: €147 million, October 2019: €648 million). The lower receipts from within the EU27 were due to decreases in receipts from euro area residents by 44.9% to €347 million (October 2019: €630 million) and in receipts from residents of non-euro area EU27 countries by 70.3% to €31 million. Among major countries of origin, receipts from Germany fell by 26.4% to €246 million and receipts from France decreased by 36.0% to €51 million. Turning to non-EU27 countries, receipts from the United Kingdom fell by 37.3% to €95 million, while receipts from the United States decreased by 98.7% to €2 million. Receipts from Russia also decreased, by 97.6% to €1 million.
In January-October 2020, travel receipts totaled €4,036 million, down by 77.0% relative to the same period of 2019. This development was driven by a 71.5% decline in receipts from residents of EU27 countries, which came to €2,699 million, and by an 82.6% drop in receipts from residents of non-EU27 countries to €1,333 million. In particular, receipts from euro area residents decreased by 70.1% to €2,249 million, while receipts from residents of non-euro area EU27 countries fell by 77.0% to €449 million. Specifically, receipts from Germany dropped by 64.4% to €1,031 million and receipts from France fell by 66.5% to €361 million. Turning to non-EU27 countries, receipts from the United Kingdom dropped by 71.7% to €714 million and receipts from the United States decreased by 93.5% to €74 million. Receipts from Russia also decreased, by 96.9% to €13 million.
Inbound traveler flows
The number of inbound visitors in October 2020 fell by 65.6% year-on-year to 955 thousand. Specifically, visitor flows through airports declined by 59.3% and visitor flows through road border-crossing points fell by 91.4%. This overall decrease was due to lower visitor flows from both within the EU27 (down 60.2%) and outside the EU27 (down 73.6%). In greater detail, the number of visitors from within the euro area fell by 50.7% to 568 thousand, while visitors from non-euro area EU27 countries fell by 81.7% (October 2020: 94 thousand, October 2019: 512 thousand). Specifically, the number of visitors from Germany decreased by 34.2% to 391 thousand, while visitors from France also fell by 39.6% to 78 thousand. Turning to non-EU27 countries, the number of visitors from the United Kingdom fell by 29.3% to 200 thousand, while visitors from the United States dropped by 97.5% to 3 thousand and visitors from Russia decreased by 98.4% to 1 thousand.
In January-October 2020, the number of inbound visitors fell by 76.1% to 7,102 thousand (January-October 2019: 29,727 thousand). Specifically, visitor flows through airports declined by 72.8% and visitor flows through road border-crossing points fell by 83.4%. In the period under review, visitors from within the EU27 dropped by 73.2% year-on-year to 4,750 thousand, while visitors from outside the EU27 decreased by 80.4% to 2,352 thousand. The number of visitors from within the euro area fell by 68.5%, while visitors from non-euro area EU27 countries dropped by 80.3%. Specifically, the number of visitors from Germany fell by 61.8% to 1,495 thousand, while visitors from France decreased by 69.4% to 463 thousand. Turning to non-EU27 countries, the number of visitors from the United Kingdom fell by 70.0% to 1,028 thousand, while visitors from the United States dropped by 91.0% to 100 thousand and visitors from Russia decreased by 95.6% to 24 thousand.
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